Over 6 months ago, the geezer said it was gone and there should not be any more concern over it. As of midnight yesterday, MILL still owned this useless piece of junk! Does anyone have a clue, guess, idea or experienced based estimate for the monthly cost to maintain this junk in MILL's name? From my experience, I am paying over 25K a month to maintain my 2008 Learjet 60 XR and that does not include costs associated with the pilot. It is in Knoxville hangared near the infamous MILL 1970 Hawker! Flying is not cheap and often not effective when compared to big airport scheduled airline flights. Knoxville is a small city and you almost have to have your own equipment to get whee you need to go. I have not saw the Hawker in the air in a long time! Any posters out there with any info? I know what my pilot says, but I can not post hearsay as fact.
Your post reminds me of the old adage....if you see a roach or a mouse, there are 100 more you do not see. By seeing liabilities everywhere, you also have to wonder how many you are not seeing. In the case of MILL, it is my opinion that there are more than 100 you do not see. Once the records are fully released and public, I suspect the public will be shocked at the abuse and misuse of corp money that has been the standard MILL way for doing business since its inception. Enrich the insiders and pi^s on the public stake holders! And sammie thought it was just rain!
CIE is the wholly owned subsidiary of MILL and MILL's only operating unit. It is, in all Essence, MILL....Cook Inlet Energy. If you did not know this, you really should be running hard away from MILL or rethinking your investment philosophy. It amazes me that some people buy stock with less consideration and knowledge than they have/use when buying a gallon of milk! Oh well, it is your money. Now sammie, do you see the nature of your potential influence on the uninitiated when you post positive MILL notes? I would suggest that sammie and others of his ilk, post only if you are a ready, willin, able and actual buyer of the issue you tout. Personally, I have never talked either side of an issue without having a significant position and willing to continue to increase that position. Long term readers can testify that I have not advocated short selling any MILL preferred issue since it dropped below 7-8, at that time it became to great a risk for me to endorse shorting, with the common, I stopped advising shorting it when it dropped below 4. Yes there was money still to be made, but the risk vs reward potentials at those times was not in favor of advising short selling, the easy money had been made! After those apx price gates, I continued to advocate avoiding all things MILL or selling your positions, but I never suggested new positions once those price points were crossed. No doubt to make some point or another, I have screamed buy buy buy or sell sell sell, but those facetious calls were to make and emphasize the points being made. Every positive post made is the poster advising the public to buy MILL, and often, I wonder if they are really so stupid that they are still buying, or just talking their book. sammie, are you still buying?
You sound more and more like me. Maybe twins separated at birth? Your post is very much appreciated. I suspect that Apollo has agreed to let MILL pay the three suing creditors with those proceeds. The remaining cash when/if it comes will likely go to Apollo. There will be no BK until all the AK cash has been received and spent. If MILL were in BKcy, AK would keep any money owed for tax credits as settlement against reclamation costs for MILL's properties, especially the Albatross platform! MILL will NEVER go to invol BK, the insiders lose control immediately in that event. They will file themselves when it is time and still milk cash out to the max possible for as long as possible.
All valid points, and while we are wanting/asking for something that is not likely forthcoming, let's ask for 100K cash for every share holder! ALL those events are equally likely to happen! With each passing day, MILL is in deeper and deeper. It has to wind down soon. The cash has to be at a very critical level? The first reason given for the delay on the 10K was the on going internal audit, then it was the potential repositioning of the assets, I am not sure what excuse is next, but I am sure there WILL be another excuse (even in face of the fact that the last excuse was very open ended about how long it might take for developments there. I am confident that so long as any insider sees any cash coming from any source at any time in the future, things will go unchanged until that cash is on hand, then spent, then the filing. And bless Patty, salaries/paychecks is a gonna come first! For the quarterly Apr-Jun, now also overdue, I predict revenue of about 10.5MM and cash expenses of over 24MM. Apollo may have some issues coming up on their own balance sheet in terms of having to declare and report non-paying assets. I feel certain MILL is not current with interest payments to Apollo. Come 1 Dec, MILL will be about 14MM in arrears on the C&D, that old dividend just keeps adding up!
While stake holders may receive one or more releases designed to stall unfavorable actions, The next substantive report you will hear from MILL will be the announce of their BK filing and the resignation of the CEO and CFO.. That news could come at anytime, any day, sooner rather than later depending on when the till is empty. I think those two individuals will cut and run and leave the mess to scottie. Maybe devoe will come out of retirement and re-take the tainted reign? Meanwhile we wait and if you still have a financial interest in MILL, I suggest you search for a quote on old Buc,....0001 last time I checked. Give MILL a few more "days"!
In any event, we know that MILL now has 2MM less shares in their cap The rescinded shares, apx 1MM and Hall's expired 1MM warrants. If this keeps up, MILL may end up with 30MM shares used in figuring the cap.
Thank you, Lewis, Now you have jogged my memory and I recall that being an issue! I guess my question would be, with some those shares vesting on date of grant, others out one and two years, with no expiration date close by, why now? Maybe to head off the grantees from cashing in and embarrassing MILL when they do not have the cash to pay the taxes? That would indicate a strain between the CEO, CFO, vs other insiders? And could also indicate that the CEO and CFO are on the verge of exiting MILL? The transaction has some significant factor driving it. Your call explains the action, but what drove it? If all were happy inside MILL, there would be no need to "protect" MILL? And why did the grantees not contest the matter? So maybe they are Ok with it and are still hanging on to the idea of a MILL recovery? I feel there is something the public does not know. It could be an interesting topic in days to come.
Nick Cunningham Posted on Wed, 02 September 2015 22:05 at oilprice site...".More U.S. oil and gas companies could come under financial distress in the coming months as crucial hedging protection begins to expire."
For sure, for sure, MILL has leaned forward in the foxhole and really taken the lead on this one!
Thanks Greg...And I will start watching the GLD. My thoughts are to play the miners with a long term perspective and not buy until there is some blood in the street. NEM at 12 might meet that criteria. I appreciate your market approach, ie, watching indicators rather than charismatic? (meaning well paid/self serving) touts/shorts/ or the masses (herd) at large.
I like it! How about... Miller's High Life, Genuine "Draft"...subtitled, the smoke that got blew up your a^s! The talk and direction is still indicating a much lower price for the other oil. A look at NEM long at about 12 might be in order. There it is a race between the dollar going up (gold and NEM down to 12) and the stuff hitting the fans which will turn NEM around and send it back up. It is worth watching!
Does anyone have a take/reading/observation/clue/reason why the 600000 shares, granted to the CEO at the time of his employment, were rescinded/canceled? And the 300000 shares granted to the CFO at the time of his employment also cancelled? I am of the opinion that a case could be made that it would have been possible to create short positions against those shares (600K at about 5 bucks, 300k at about 2 bucks) those positions covered/closed in the public market place once the stock fell to a dime a share, would then eliminate the need for the grants to exist and they could be rescinded without contest or even at the request of the grantees. It is another conspiracy theory, but WOW, if evidence were to be discovered that supported such dealings, that would be a real mess! And might even get a chapter in the coming book!
I recently read those figures somewhere, I think the AOGCC site. I may be wrong, but I think the number was 230K BOD that had to move thru the pipe to keep it open, not from economic reasons, but for mechanical reasons. If I re-find the info, I will post a source.
It seems barely five weeks ago that the geezer with absolute certainty said MILL would release their long over due 10K with in two weeks , if even that long. Well it seems MILL is locked in a time warp oddity and two weeks is two weeks plus two weeks plus two weeks, does this #$%$ (the lies and distortions) never end? Yeah, when the plug is finally pulled, SOON! I digress here and comment on just how much money old sammie has lost on this dog. This is the only stock he has ever posted as owning (in over 500 posts over the years), I suspect he had his entire fortune, all .44 cents of it invested here. Now he has lost it all, and far from feeling sad, I rejoice that the pied piper of MILL has finally got what he had coming, as many others also have reaped their just rewards. It is difficult for me to understand the lack of reasoning from any man who can easily see the truth but continues to delude both himself and anyone foolish enough to listen to him...ie his post on "decent production"!
Of Evagrius' original list of the seven deadly sins, I think the case could be made that one of the female candidates (name not disclosed) has committed eight.
JMJ, I really would like to see one rule maker, with that individual owning only a second hand sack cloth cloak and one small wooden bowl. I suspect our society has become to complex and specialized for that to ever be the case in the next few generations, but maybe one day!
There rarely is . Once a company realizes it is over, they file voluntary to retain as much control over the process as possible. Keep those salaries flowing, flowing rawhide! Eyah!